Bulls make money.
Bears make money.
Pigs get slaughtered.
24 August 2011
24 AUG 2011, Wednesday (AM)
Well, seems like the relief bounce is finally starting...back to 1220-1250 area? All momentum indicators are pointing up. Just in time for the stupid Jackson Hole Fed Party this weekend. Personally, I think you'd be foolish to be on either side this weekend....anything can happen. Let them make their announcement and just come back next week.
Overall, trend is still down. Volatility still high but dropping now. Possible corrective bounce of the AUG down move coming. I may cautiously entertain some long side day trades...no holds.
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